The automated storage and retrieval system market comprises automated stacker cranes, carousels, automated robots, shuttles and pods for managing inventory storage and replenishment in material handling facilities. Automated storage and retrieval systems provide advantages like accurate order fulfillment, real-time inventory tracking, space optimization and 24/7 operational capabilities. With the growing e-commerce industry, adoption of Industry 4.0 technologies and demand for minimization of operational costs, automated storage and retrieval systems have become essential for warehouses and distribution centers worldwide.
The Global Automated Storage and Retrieval System Market is estimated to be valued at US$ 11328.29 Bn in 2024 and is expected to exhibit a CAGR of 22.% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the automated storage and retrieval system are Murata Machinery, Ltd., Honeywell Intelligrated, Bastian Solutions, Inc., Dematic, TGW Logistics Group, Daifuku Co., Ltd., KNAPP AG, Beumer Group, SSI Schaefer Group, and Kardex Group. These players are focusing on development of innovative intralogistics solutions for industries like e-commerce, automotive, food & beverages and pharmaceuticals.
The demand for automated storage and retrieval systems is growing rapidly due to expansion of e-commerce sector worldwide. E-commerce giants are extensively deploying ASRS to optimize warehouse operations and meet growing customer expectations of fast delivery. Industries are also adopting ASRS to realize tenfold improvement in productivity, maximize storage capacity and minimize operating expenses.
The Global Automated Storage And Retrieval System Market Demand is expanding vigorously mainly due to increasing international trade volumes. Cross-border warehouses and distribution centers are extensively using ASRS to manage import-export operations efficiently. Growth of the logistics industry and establishment of shared distribution infrastructure like fulfillment centers is spurring demand for automated handling equipment globally.
Market Key Trends
One of the key trends in the automated storage and retrieval system market is the adoption of intralogistics applications powered by IoT, artificial intelligence, big data and cloud computing. Intralogistics 4.0 technologies allow real-time monitoring and control of material flows. Advanced algorithms also enable smart storage optimization, predictive maintenance and data-driven decision making. This is improving operational efficiency, inventory accuracy, productivity and customer fulfillment in automated warehouses exponentially.
Porter’s Analysis
Threat of new entrants: New companies find it difficult to cater to the large upfront investments required for infrastructure development and technological expertise. Bargaining power of buyers: Buyers have high bargaining power due to the availability of various system options at competitive prices. Bargaining power of suppliers: Suppliers have moderate bargaining power due to the availability of component substitutes. Threat of new substitutes: Substitutes like robot-based systems pose moderate threat due to the increased focus on automation. Competitive rivalry: Intense competition exists among the top players to gain higher market share through product innovations.
Geographical regions
North America dominates the market and holds the largest share in terms of value owing to the high demand from industries like e-commerce, food and beverage, healthcare and automotive.
Asia Pacific is expected to grow at the fastest rate over the forecast period. This is attributed to rapid industrialization and growth of warehouse infrastructure in emerging economies such as India, China and Southeast Asian countries. In addition, establishment of manufacturing facilities by foreign players in these countries will boost the Automated Storage And Retrieval System Market Regional Analysis.
